Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0279%/8h= −30.5% APRpaid last 24h −0.094%

Price spread now: Variational Omni against Reya+0.026%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.026% dearer against Reya than usual: you sell high and buy low (spread +0.026% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.143	0.0379	pay 0.0047% / 1h	29m 26s	$5K	—	20x
Short	Variational Omni LINK	13.146	0.0100	get 0.0100% / 8h	29m 26s	$3.3M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee Variational OmnibpOrdersPrice spread, now +0.026%Rate

Funding earned: −$58.49
Price spread: +0.026% → 0.000%: $2.64
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$61.84
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Reya no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	3.12 bp	doesn't fit	10.3 bp −$103	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	13.144	+0.015%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.151	+0.066%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.145	+0.015%	$725K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.145	+0.017%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.171	+0.215%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.650%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.139	−0.027%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.143	+0.004%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.142	−0.003%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.139	−0.027%	$401K	$311K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.143	0.000%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.147	+0.032%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.142	−0.004%	$122.2M	$304.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.141	−0.012%	$84.6M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.145	+0.019%	$27.7M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.161	+0.141%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.144	+0.011%	$130.2M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.145	+0.019%	$36.6M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.147	+0.034%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.144	+0.011%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.145	+0.019%	—	$6.6M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	13.146	+0.026%	$3.3M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	13.162	+0.149%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.020%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.173	+0.232%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.147	+0.034%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.139	−0.027%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.156	+0.106%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.137	−0.042%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.122	−0.153%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.140	−0.019%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.144	+0.008%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.148	+0.042%	$995K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.151	+0.065%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0252%	1h	13.148	+0.042%	$363K	$379K	15x	as long as short
Hyperliquid LINK	+0.0277%	1h	13.161	+0.141%	$77.9M	$24.1M	10x	as long as short
Reya LINKRUSDPERPlong	+0.0379%	1h	13.143	long leg	$5K	—	20x
Kraken Futures PF_LINKUSD	+0.0478%	1h	13.147	+0.038%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0483%	8h	13.156	+0.103%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0670%	1h	13.142	−0.008%	$348K	$48K	10x	as long as short